REC Opens Tasting Pavilion in Egypt
17:07 GMT 13.12.2021 (Updated: 19:12 GMT 13.12.2021)
© Sputnik / Kirill KalinnikovRussian Export Centre (REC) logo
© Sputnik / Kirill Kalinnikov
The Russian Export Centre JSC (part of VEB.RF Group), together with the Russian Ministry of Agriculture, held the opening ceremony of its tasting pavilion in Egypt. The event was attended by Sergey Levin, Deputy Minister of Agriculture of the Russian Federation and representatives of the Egyptian Ministry of Trade and Industry, REC says.
Alexey Solodov, vice-president of the REC, explained that Egypt was chosen "as a result of a survey" which showed that the country was "the most attractive region for Russian companies. The Russian Ministry of Agriculture supported this idea as well,” he added.
He said that, when choosing a country for the new pavilion earlier this year, REC researched the sales potential of Russian products in different countries. Population, GDP, purchasing power, availability of a seaport, volume of agricultural imports from Russia, share of Russian products in total imports to the country, as well as the presence of agricultural attaché and trade representation of the Russian Federation were chosen the main criteria. Trade barriers, the corruption perception index and the ease of doing business index were also considered.
“As a result, three countries were chosen - Egypt, Indonesia and Nigeria. We also interviewed active participants of the programme, including major exporters such as JSC ‘Makfa’ and JSC ‘Ural confectioners,’” Solodov added.
According to him, Egypt has an advantageous geographical location as it’s close to the Mediterranean. Moreover, thanks to the Suez Canal, Egypt is a key logistics and commodity centre in North Africa.
“Egypt’s economy is growing steadily, with an average annual GDP growth rate of 1.8 percent, which makes the region attractive for exports. Russian exporters have shown great interest in the new pavilion, 31 companies have now been approved for product placement, 17 of them have already presented their products in the pavilion", Solodov said at the opening ceremony, encouraging Russian food exporters to use the opportunities of the pavilion, which will make it possible for them to enter the Egyptian market or increase products supply to the country.
He highlighted that the new pavilion is another step way to introduce foreign markets to Russian businesses. Moreover, the mechanism has the capacity to introduce "products for peaceful purposes" not only to Egypt but also to neighboring countries. “We will not rest until every Russian exporter is convinced that once his products get on the shelves of our pavilions, his company will enjoy huge success. We will work until every consumer in Egypt becomes a fan of Russian products”, Solodov said.
Previously, three permanent tasting pavilions demonstrating Russian agro-industrial products were launched in China (Shanghai), UAE (Dubai) and Vietnam (Ho Chi Minh City). 136 Russian companies presented their products there - 45 in the UAE, 44 in Vietnam and 47 in China. In 2021, 26 export contracts worth $32 million were concluded.